Bitcoin Price Analysis: BTC at $4,500 Not an Impossibility

Dalmas Ngetich

1 year ago

2 mins read

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Bitcoin Price up 1.8 percent, double-bar bull reversal pattern prints
Fidelity Investment custodial services set for March
Transactional volumes expected to rise in days ahead

Three months after announcing their interest in crypto, Fidelity Investment will set out and roll out Bitcoin custody in three months. No doubt this will easy crypto trading as BTC is usually the base pair as BTC/USD rise from $3,500.

Bitcoin Price Analysis

Fundamentals

Here’s why Fidelity Investments delving into the cryptocurrency world is such a big deal. First, the Boston based firm has over $2.6 trillion in assets under management (AUM). With 27 million customers, it is a leading provider when it comes to 401(k) and 403(b) Retirement Savings Plans for individuals and non-profit organizations. It is for this reason why they are such a force.

They may pave the way for other traditional Wall Street corporations to invest and build cryptocurrency infrastructure. The Mutual Fund giant, through the Fidelity Digital Asset, is crypto centric and looking for ways of investing in crypto related products.

American asset management giant @Fidelity Investments is planning to launch its Bitcoin custody services in March & is hoping to ease the fears that institutional investors may have about the highly volatile & somewhat technical world of crypto trading. https://t.co/cWptRGpkQY

— NewsBTC (@newsbtc) January 30, 2019

It is through their mandate that company insiders claim that the behemoth is planning on launching Bitcoin custodial services as early as March this year. Such a move will ease fears related to cryptocurrency trading allowing the asset to flourish.

Candlestick Arrangements

It’s back to green, and at spot prices, BTC is up 1.8 percent. From candlestick arrangement, it looks likely for BTC bulls to pump prices, driving the most valuable coins above $3,800. As laid out in our BTC/USD trade plans, such moves will trigger longs, and the first targets will be at $4,500 and later $5,000.

Both goals are feasible, and none are far-fetched. Notice that $4,500 and $5,000 are Dec 2018 highs and while $4,500 is a significant Fibonacci retracement level, $5,000 is a round number. The reason for this is because there is a double bar bull reversal pattern off the main support level at $3,500.

All that is needed is a confirmation. Once that happens, we are likely to see prices expanding towards our targets.

Technical Indicators

Transactional volumes are still low, and even though we have a double bar bull reversal pattern off $3,500, averages are not even close to Jan 28. As above average volumes should pump aforementioned, rallies that will reverse losses of Jan 28. These volumes should exceed Jan 28’s—17k. However, the ground would be set for another wave of higher highs if they exceed Jan 20’s—20k or Jan 10’s—35k.

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.